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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
Wednesday, 11 December 13
BDI REACHED A PEAK OF YEAR RECORD OF 2,237 POINTS WHICH IS A SIGNIFICANT CHANGE IN MARKET CONDITIONS
Getting closer to the end of 2013, it is important that we have a review of the course the market has taken these past 12 months by looking at the B ...
Tuesday, 10 December 13
HNL, AN INDIAN STATE-OWNED NEWSPRINT PAPER MAKER SEEKS 50K TONS OF INDONESIAN 5600 COAL
COALspot.com: Hindustan Newsprint limited (HNL), an Indian state owned news print paper producer invited bids to supply 50,000MT of min 5,200kcal/kg ...
Tuesday, 10 December 13
COLOMBIAN THERMAL COAL EXPORTS SLIPPED 25.54% M-M IN OCTOBER'13
COALspot.com: Colombia's Thermal coal exports in October dropped 25.54% month on month to 5,990,815.13 million mt, according to data from mining de ...
Tuesday, 10 December 13
NEWCASTLE COAL EXPORTS PLUNGE W-O-W
COALspot.com: In the week ended December 9, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.50 ...
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- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- The University of Queensland
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
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